Assessor's Office of Normal Township

Assessed Value

Assessed Value x Multiplier

- Exemptions

x Tax Rate

= Your Tax Bill

The Assessed Value

The assessment office must discover, list and assign assessed values to every property in the jurisdiction. The State has also determined that in Illinois this should be a fractional assessment or 33 1/3% of market value. Market value as defined by the current text of the International Association of Assessing Officers is "The most probable sale price of a property in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing sufficient time for the sale, and assuming that the transaction is not affected by undue pressures."

This office monitors all sales that occur in Normal Township and analyzes the local real estate market, economic conditions, supply and demand factors and other influences which affect property values.

The office maintains records of ownership and sale information as well as property characteristics that are updated every time a physical change is made to the property. These characteristics are used in conjunction with our analysis of sales in the real estate market to estimate a market value, and then an assessed value of your property.

Our goal is to determine an accurate market value estimate of your property and to assure that similar properties have similar assessments.

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